9911796707
TMI Blog2022 (9) TMI 1665X X X X Extracts X X X X X X X X Extracts X X X X ..... s) was not justified in denying the exemption u/s 11(2) of the act and confirming the addition of Rs 16,19,720 made by the AO for late filing of form no 9A and Income tax return, 2. Under the facts & in the circumstances of the case & in law, Id. Commissioner of Income tax (Appeals) was not justified in stating that appellant had not submitted copy of application for condonation of delay made before CIT (Exemptions) whereas such copy and documents already submitted before him. 3. Under the facts & in the circumstances of the case & in law, Id. Commissioner of Income tax (Appeals) did not consider the fact that Appellant had applied under sec 119(2b) of the Act before CIT(Exemptions) for condonation of delay on 18 12-2019 but due to COVI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... condonation of delay in filing Form No-9A on 23-12-2019 (vide pg no-12 of PB). 4. Thereafter assessee filed an appeal before Ld. CIT (A)-1 Mumbai challenging the assessment order in its submission before Ld. CIT(A) assessee filed copy of petition for condonation of delay along with its submissions justifying its claim for section 11(1). Ld CIT (A) also passed the order on 31-05-2021 without waiting for the outcome of petition filed by the assessee before CIT(Exemption). Although Ld. CIT(A) vide its order, page no -6 categorically denied about filing of copy of petition for condonation of delay before CIT(Exemption). Whereas the same document assessee filed twice on 23-02-2021 and 16-04-2021 vide page no-2 and 5 of the assessee's paper boo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... consultant are not very familiar with the processes to be carried out. In this regard being the first year there should have been a lenient view to be taken by the A.O and Ld. CIT(A). 8. None of the facts submitted by the assessee, emanated from various order in this case and looking at the gender and age profile of the assessee, we don't see any foul play or advertant defiance by the assessee in complying with the requirements of the Act and benefit of exemption on this technical; breach can't be denied to the assessee. 9. To arrive at this conclusion we found support from various judicial pronouncements as mentioned below: "[2001] 114 Taxman 255 (SC)/[2001] Commissioner of Income-tax v. Nagpur Hotel Owners' Association It is abund ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rement of the Act will have to be any time before the assessment proceedings. Further, any claim for giving the benefit of section 11 on the basis of information supplied subsequent to the completion of assessment would mean that the assessment will have to be reopened. The Act does not contemplate such reopening of the assessment. In the instant case, it was evident from the records of the case that the respondent did not furnish the required information till after the assessments for the relevant years were completed. In the light of the above, the stand of the revenue that the High Court erred in answering the question in favour of the assessee was correct, and that finding was to be reversed. [2021] 130 taxmann.com 506 (Chandigarh - T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or claiming accumulation of income as stipulated under section 11(2) were satisfied except that Form No. 10 was not submitted before stipulated time as provided under section 139(1) but same was filed in physical mode before completion of assessment proceedings and there was no dispute between rival parties as to genuineness of deduction so claimed - It was also undisputed that purpose of accumulation of income under section 11(2) was to purchase property for furtherance of activities and objects of assessee, and assessee had invested said accumulation of income in one mode prescribed under section 11(5) by taking FDR's with banks - Moreover, assessee did purchase property in immediately succeeding financial year and aforesaid accumulat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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